About the Course

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This course is designed to provide the knowledge to leverage quantification techniques, specifically focusing on Monte Carlo analysis. This enables a more accurate view of the magnitude of each risk and its likelihood and complements the qualitative ‘heatmap’ process. This secondary analysis is ideal for better understanding high rated risks. Importantly, you don’t need a math’s degree!

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Learning Objectives

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1. Understand the principles that underlie an efficient and effective approach to the modelling of organisational risk and the value it brings to the organisation.

2. Apply the core elements of quantification in risk management to help an organisation understand their risk environment.

3. Understand the quantification process and apply it to real organisational problems of differing size and complexity.

4. Apply the principles of risk quantification and statistical modelling into building stochastic cashflow models.

5. Apply the Monte Carlo simulation approach to modelling real-life scenarios.

6. Develop the ability to communicate risk model output to different stakeholders.

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